NW Illinois News

NW Illinois News

Saturday, April 4, 2020

Analysis: How much more will Lanark residents pay in income taxes?


By Metric Media News Service | Feb 12, 2020

Adobestock 301334866

Lanark residents will have to pay $1,781,168 more in state income taxes if Gov. J.B. Pritzker's proposed tax hike is to generate the $10.3 billion in additional tax revenue that he has promised, according to a NW Illinois News analysis of Illinois Department of Revenue data.

Pritzker claims the additional tax revenue will "eliminate the budget deficit."

The city in Carroll County that will be the most affected by Pritzker's proposal is Savanna, with residents expected to pay an additional $1,806,445 in income taxes -- approximately $1,364 per person in the labor force. Chadwick will pay only $628,016 more -- approximately $2,166 per person in the labor force in comparison, the least among Carroll County cities.

The following table shows how other cities in Carroll County are affected.

How much more will residents from Carroll County pay on the proposal?

Total Expected Income Tax burden
Total Increase
Per Person Increase
Mount Carroll

Per person increases have been calculated using the most recent data about people in the labor force as provided by the U.S. Census Bureau's ongoing American Community Survey.

Want to get notified whenever we write about City of Lanark ?

Sign-up Next time we write about City of Lanark, we'll email you a link to the story. You may edit your settings or unsubscribe at any time.

Organizations in this Story

City of Lanark

More News